Public Storage (NYSE:PSA) has received an average recommendation of “Hold” from the fifteen research firms that are currently covering the firm, MarketBeat Ratings reports. Eight analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $205.77.
PSA has been the topic of several research reports. Barclays reaffirmed a “hold” rating and issued a $201.00 price objective on shares of Public Storage in a research report on Wednesday, January 31st. Cantor Fitzgerald reissued a “hold” rating and issued a $213.00 price objective on shares of Public Storage in a research note on Wednesday. Jefferies Group set a $212.00 price objective on shares of Public Storage and gave the company a “hold” rating in a research note on Tuesday, November 28th. B. Riley set a $220.00 price objective on shares of Public Storage and gave the company a “hold” rating in a research note on Wednesday, November 15th. Finally, BMO Capital Markets set a $185.00 price objective on shares of Public Storage and gave the company a “sell” rating in a research note on Tuesday, February 20th.
Shares of Public Storage (PSA) traded up $2.54 during trading hours on Tuesday, hitting $195.68. The company had a trading volume of 770,387 shares, compared to its average volume of 1,316,078. The company has a current ratio of 1.29, a quick ratio of 0.38 and a debt-to-equity ratio of 0.29. Public Storage has a twelve month low of $180.48 and a twelve month high of $232.21. The stock has a market capitalization of $34,056.34, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 3.84 and a beta of 0.31.
Public Storage (NYSE:PSA) last announced its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.72 by $0.03. The business had revenue of $634.22 million during the quarter, compared to analyst estimates of $643.46 million. Public Storage had a return on equity of 27.48% and a net margin of 51.16%. Public Storage’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $2.03 earnings per share. sell-side analysts anticipate that Public Storage will post 10.56 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Wednesday, March 14th will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 4.09%. The ex-dividend date is Tuesday, March 13th. Public Storage’s payout ratio is currently 118.69%.
In other news, Director Gary E. Pruitt sold 5,000 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $212.09, for a total transaction of $1,060,450.00. Following the completion of the transaction, the director now owns 8,350 shares of the company’s stock, valued at $1,770,951.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Reyes sold 60,000 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $212.24, for a total transaction of $12,734,400.00. The disclosure for this sale can be found here. 14.42% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Public Storage by 2.1% in the fourth quarter. BlackRock Inc. now owns 15,205,032 shares of the real estate investment trust’s stock valued at $3,177,851,000 after purchasing an additional 312,682 shares during the last quarter. APG Asset Management US Inc. increased its holdings in shares of Public Storage by 8.3% in the third quarter. APG Asset Management US Inc. now owns 4,563,523 shares of the real estate investment trust’s stock valued at $976,548,000 after purchasing an additional 350,712 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Public Storage by 41.3% in the third quarter. JPMorgan Chase & Co. now owns 4,466,228 shares of the real estate investment trust’s stock valued at $950,191,000 after purchasing an additional 1,304,669 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Public Storage by 3.4% in the third quarter. Dimensional Fund Advisors LP now owns 2,123,657 shares of the real estate investment trust’s stock valued at $454,437,000 after purchasing an additional 69,105 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Public Storage by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 1,903,764 shares of the real estate investment trust’s stock valued at $397,191,000 after purchasing an additional 75,518 shares in the last quarter. 79.88% of the stock is owned by hedge funds and other institutional investors.
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About Public Storage
Public Storage is a real estate investment trust (REIT). The Company’s principal business activities include the ownership and operation of self-storage facilities, which offer storage spaces for lease, generally on a month-to-month basis, for personal and business use, ancillary activities, such as merchandise sales and tenant reinsurance to the tenants at its self-storage facilities, as well as the acquisition and development of additional self-storage space.
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